9 October 2003, 09:34  Dollar jumps off day's lows vs yen

TOKYO, Oct 9 - The dollar abruptly jumped by about a quarter yen from the day's lows against the Japanese currency on Thursday, with dealers suspecting possible intervention by Japanese authorities. The dollar, which had set three-year lows around 109.10 yen earlier and was pinned near that level for a while, jumped above 109.40 in early afternoon Tokyo trade. "It looks like intervention but we're not sure. But these moves just offer yen bulls -- who are the majority in the market right now -- a perfect opportunity to sell dollars again," said a dealer at a Japanese bank. Ministry of Finance officials were not immediately available for comment.//

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